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Russ Cranswick Partner, Member of the Investment Committee Mr. Cranswick joined RCF Management in early 2000 in order to expand the management team's experience in the areas of mineral exploration and equity markets. Prior to joining RCF Management, he spent four years as a mining equity analyst at Canadian retail and institutional brokerage firms covering junior and intermediate companies with a broad geographical and commodity focus. His technical experience comes from eight years and 11 field seasons in mineral exploration, primarily with major mining companies Kennecott, Freeport McMoRan, Utah (now part of BHP-Billiton), Esso and Newmont. Mr. Cranswick is a well-respected Professional Geologist who served on the Geoscience Committee of the Association of Professional Engineers and Geoscientists of British Columbia prior to his relocation to Denver. Mr. Cranswick serves on the board of portfolio company Defiance Mining Corporation. He holds a Bachelor of Science degree with a major in Geology from the University of British Colombia. Management Background James T. McClements Ryan T. Bennett Ian C. Burvill Henderson G. Tuten Brian T. Dolan Ross R. Bhappu Russ Cranswick Sherri A. Croasdale Mason G. Hills Investment Strategy Overview How RCF Adds Value Approaching RCF Investment Structures Exit/Realization Strategies About Private Equity Overview

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